Very Strong LONG Setups Emerging (Thanks Shaza)

(Despite the gloom and doom, some people will make a ton of money because they are looking for opportunity! )

From the impatient trader blog

Now, I haven't said this in a long time but i am starting to see very nice bullish formations emerging again guys. It's time to focus and really see if this for real.

My hunch, tells me the bulls are gonna surprise here. This recent selloff has done an amazing job of turning everyone bearish and extremely cautious about stocks. Some are even expecting stocks to "CRASH" again and i am hearing DOW 3000 predictions again. Stocks climb a wall of worry and boy-o-boy do we have a wall of worry now.

I do NOT know how long this rally will last but as of now, i am not interested in fighting it. Buying dips is gonna be the key UNTIL it stops working.

This attached watchlist if filled with bottoming formations, bullish falling wedges and falling channel patterns which i consider high probability setups.

Please note: I am nor a perma bull nor a perma bear:

I just scan thru hundreds of stocks daily and nightly and I try and get a feel for chart patterns, sentiment, supply versus demand characteristics and try to gain an edge based on these findings. Sometimes I am right and sometimes I am wrong but i always remain neutral and objective and approach ALL trading sessions respecting both the powers of bulls and bears. Best of luck guys! Hope this helps you.

Here’s What Your Friends and Neighbors are Worried About…

From EconomPic Data, we get a visual of the latest Gallup Poll. Surprise! Your friends and neighbors are now more concerned with the level of Federal Debt than with Terrorism. Now of course, take this poll a week after a terror attack and the results would be just a little bit different, but still...

Whoever said that "deficits don't matter" was probably not running for office. Nice work, Jake.